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Orangeburg Man Faces Prison, Restitution for $11 Million Ponzi Scheme

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A Rockland investment broker and former Rockland Republican Party official faces nearly 20 years in prison today and $20 million in penalties for running an $11 million Ponzi scheme for 25 years. The Journal News says 77 year-old Hector May of Orangeburg will be sentenced after pleading guilty in December to wire and investment adviser fraud. Federal officials are recommending May serve 10 years in prison.